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Energy regulator wants to hear from you

If you have an idea to help make electricity bills more affordable, the nation's energy regulator wants to hear from you.

The Australian Energy Regulator is calling for submissions to help shape a default price for the electricity market, with a public forum to be held in Sydney early next week.

A default market price is part of the federal government's raft of measures to make energy more affordable for Australians.

The capped price will be available for those in NSW, South Australia, south-east Queensland and Victoria - where electricity prices are deregulated.

It will replace more expensive standing offers, which federal Energy Minister Angus Taylor has told electricity retailers to reduce by the start of next year.

If the retailers don't uphold their end of the deal, the default market price will be cemented into law and introduced from July.

Standing offers are linked to the so called "loyalty tax", where users are kept on higher price plans despite better deals being available for new customers.

An April 30 deadline has been set for the AER to develop the default price.

Customers who don't shop around for better energy deals generally end up on standing offer prices, AER chair Paula Conboy says.

"They are set by electricity retailers and as pointed out in the ACCC report, are unjustifiably too high."

Consumer group Choice urges Australians to shop around for better deals and to ask retailers for their best offers.

Austrlaian Associated PressBack to Breaking News

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